Market Trends

BTC: Under a series of favorable conditions and policy actions, the price has gradually rebounded from a pullback, returning to around 118k. Whether it can continue to push higher over the weekend depends on key institutional buying and the rhythm of options substitution.

ETH: Still the 'star leader' of the wheel market, testing the $4000 mark again; if capital continues to flow in, a breakout may occur, but short-term attention is on the continuous expansion.

SOL requires policy/macroeconomic directives.

XRP (Ripple): SEC withdrawal, secondary market non-security designation takes effect—this has a demonstration effect on the compliance boundaries of the entire industry, which may stimulate sentiment for related assets in the short term.

401(k) Fundamentals: Global plans for large-scale bond issuance to purchase ETH: If realized, it will strengthen the argument that "institutions further increase ETH holdings/asset allocation," potentially providing support for the price.

Federal Reserve

The speech is dovish, and the market continues to bet on the interest rate cut window, which typically favors liquidity in risk assets. On-chain/project dynamics (a few noteworthy points)

$PROVE fell below 1: After favorable expectations were fulfilled, it began to retract, reminding: when good news is anticipated and amplified by the market, there is often pressure to realize gains.

Gemini / BTC Mining & IPO: Traditional exchanges and families are fluctuating in mining and treasury strategies, with funds and compliance statements merging.

Binance Euro fiat channel conversion: Supports European users to convert crypto and withdraw to Mastercard, indicating CEX is continuing to expand real entry and exit points along compliance paths.

NFT market saw a price of 123 BTC for a dog hat prototype: Extreme bidding once again reminds us—the investment opportunities and creativity coexist in on-chain gameplay, presenting both risks and opportunities.

Institutional-level on-chain settlement/repurchase tools (Morgan, Kinexys) and new Pendle products have led to slight fluctuations in the fixed income and derivatives market.

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